Permian Basin Royalty Trust (NYSE:PBT) Raises Dividend to $0.05 Per Share

Permian Basin Royalty Trust (NYSE:PBT) announced a monthly dividend on Tuesday, October 20th. Investors of record on Friday, October 30th will be paid a dividend of $0.0452 per share by the oil and gas producer on Monday, November 16th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, October 30th. This is a 130.6% increase from Permian Basin Royalty Trust’s previous monthly dividend of $0.0196.

Permian Basin Royalty Trust has increased its dividend by an average of 0.1% per year over the last three years.

Permian Basin Royalty Trust Price Performance

Permian Basin Royalty Trust stock opened at $33.66 on Wednesday. The company’s 50 day simple moving average is $33.94 and its 200 day simple moving average is $29.15. Permian Basin Royalty Trust has a fifty-two week low of $16.25 and a fifty-two week high of $37.00. The firm has a market capitalization of $1.57 billion, a price-to-earnings ratio of 96.19 and a beta of 0.56.

Permian Basin Royalty Trust (NYSE:PBT) last announced its quarterly earnings data on Thursday, August 13th. The oil and gas producer reported $0.08 earnings per share (EPS) for the quarter. The business had revenue of $4.18 million for the quarter. Permian Basin Royalty Trust had a return on equity of 9,990.08% and a net margin of 91.96%.

Institutional Investors Weigh In On Permian Basin Royalty Trust

Several institutional investors have recently made changes to their positions in the stock. CX Institutional raised its stake in shares of Permian Basin Royalty Trust by 80.3% during the 2nd quarter. CX Institutional now owns 2,109 shares of the oil and gas producer’s stock valued at $53,000 after purchasing an additional 939 shares during the period. NewEdge Advisors LLC boosted its stake in Permian Basin Royalty Trust by 25.1% in the 2nd quarter. NewEdge Advisors LLC now owns 3,493 shares of the oil and gas producer’s stock worth $87,000 after purchasing an additional 701 shares during the period. Integrated Wealth Concepts LLC bought a new position in Permian Basin Royalty Trust in the 2nd quarter worth about $114,000. Post Resch Tallon Group Inc. bought a new position in Permian Basin Royalty Trust in the 2nd quarter worth about $210,000. Finally, Tidal Investments LLC purchased a new position in Permian Basin Royalty Trust during the 2nd quarter valued at about $211,000. Hedge funds and other institutional investors own 28.86% of the company’s stock.

About Permian Basin Royalty Trust

Permian Basin Royalty Trust (NYSE: PBT) is a grantor trust that holds interests in oil and natural gas properties located in the Permian Basin of West Texas. The trust does not explore for, develop, or operate properties itself. Instead, it receives proceeds generated from the production and sale of hydrocarbons from properties in which it owns royalty or net profits interests.

The trust’s principal interests include properties associated with the Waddell Ranch in Texas, as well as additional Texas royalty properties.